life preserver (Photo: Shutterstock)

Financial security is often discussed in terms of the three-legged stool of savings. The first leg being personal savings, the second leg being company retirement funds, and the third leg coming from the government, i.e. Social Security.

Within the personal savings leg there is also the consideration of emergency savings and how employers can assist with that. With the passage of the emergency savings provision within the SECURE 2.0 Act of 2022, employers are starting to look at emergency savings within the workplace. A new report from Commonwealth and the Defined Contribution Institutional Investment Association’s (DCIA) Retirement Research Center shows that these types of plans can really help low to moderate income earners.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.